Odisha unveils higher education loan scheme
Odisha Chief Minister Naveen Patnaik recently launched Kalinga Sikshya Sathi Yojana, a scheme that will ensure meritorious students do not stop enrolling for higher education due to lack of funds. Under the provisions of the scheme, the state government would provide education loan at only 1% interest per annum to students undergoing higher education, including management, law, engineering, medicine and others. The state government has earmarked Rs 500 crore from its own resources for the purpose. “I fully understand the financial stress the parents, especially of the poor and middle class, undergo in meeting the education cost of their children. This historic and pioneering step of my government will reduce the loan burden of thousands of parents and financially empower poor students to pursue their aspiration in higher education,” Patnaik said. He dedicated this scheme to former CM Biju Patnaik on his birth centenary.